Invitation Homes (NYSE:INVH) Coverage Initiated at Goldman Sachs Group

Goldman Sachs Group initiated coverage on shares of Invitation Homes (NYSE:INVH) in a research report report published on Friday, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued a sell rating and a $29.00 price objective on the stock.

A number of other brokerages have also recently commented on INVH. BTIG Research cut shares of Invitation Homes from a buy rating to a neutral rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods cut shares of Invitation Homes from an outperform rating to a market perform rating and set a $28.50 price target on the stock. in a research report on Friday, July 19th. B. Riley set a $30.00 price target on shares of Invitation Homes and gave the company a buy rating in a research report on Friday, August 16th. Citigroup increased their price target on shares of Invitation Homes from $31.00 to $34.00 and gave the company a buy rating in a research report on Wednesday, November 6th. Finally, Zacks Investment Research upgraded shares of Invitation Homes from a sell rating to a hold rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $29.79.

INVH traded down $0.18 on Friday, reaching $29.28. The company had a trading volume of 3,207,309 shares, compared to its average volume of 3,849,198. Invitation Homes has a 52-week low of $19.21 and a 52-week high of $31.32. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.29 and a current ratio of 0.29. The business has a 50 day simple moving average of $30.18 and a 200 day simple moving average of $27.84. The company has a market cap of $15.99 billion, a price-to-earnings ratio of 127.30, a P/E/G ratio of 3.13 and a beta of 0.40.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.24). Invitation Homes had a net margin of 6.76% and a return on equity of 1.83%. The business had revenue of $443.33 million for the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Invitation Homes will post 1.23 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. Invitation Homes’s dividend payout ratio is 226.09%.

In other news, Director Barry S. Sternlicht sold 463,048 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $30.44, for a total value of $14,095,181.12. Following the transaction, the director now owns 11,187 shares in the company, valued at $340,532.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Real Estate Partner Blackstone sold 44,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $28.18, for a total transaction of $1,239,920,000.00. The disclosure for this sale can be found here. Insiders sold 44,649,323 shares of company stock worth $1,259,523,023 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. NEXT Financial Group Inc lifted its stake in Invitation Homes by 18.1% in the second quarter. NEXT Financial Group Inc now owns 2,919 shares of the company’s stock worth $78,000 after acquiring an additional 447 shares during the period. First Hawaiian Bank lifted its stake in Invitation Homes by 3.1% in the third quarter. First Hawaiian Bank now owns 16,580 shares of the company’s stock worth $491,000 after acquiring an additional 500 shares during the period. Synovus Financial Corp lifted its stake in Invitation Homes by 3.8% in the third quarter. Synovus Financial Corp now owns 21,502 shares of the company’s stock worth $639,000 after acquiring an additional 790 shares during the period. Royal London Asset Management Ltd. lifted its stake in Invitation Homes by 0.7% in the second quarter. Royal London Asset Management Ltd. now owns 122,725 shares of the company’s stock worth $3,279,000 after acquiring an additional 898 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Invitation Homes in the third quarter worth $30,000.

Invitation Homes Company Profile

Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.

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Analyst Recommendations for Invitation Homes (NYSE:INVH)

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